Issuer officials who said Treasury's final issue price rules are a vast improvement over earlier proposals nevertheless raised concern that they might discourage competitive sales of bonds or create problems for issuers if underwriters run afoul of the rules.

The next refinancing trigger is on the horizon

With current mortgage rates in the 5.90% level, Street analysts predict the market is now close to another refinancing explosion.

Mortgage rates are so low in part, because the basis tightened quite dramatically in the beginning of the year. With mortgage rates inside of 6.0%, analysts from Bear Stearns...

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